The Dodd-Frank Wall Street Reform And Consumer Protection Act
("Dodd-Frank") became a federal law in the US in 2010.
With the passage of the Dodd-Frank US federal law they later
created as part of this legislation the US Securities and Exchange
Commission ("SEC") Office of the Whistleblower
("OWB"). The very large lucrative pay-outs for
whistleblowing is a considerable attraction for individuals
considering that one can achieve in the range of between 10% and
30% of the amount that the US SEC secures through a settlement or a
court decision.
There have been many complaints from large corporations in the
US that it undermines a company's good internal compliance
programme. Some of the US business institutions together with the
American Bar Association ("ABA") wanted the SEC to
request company whistleblowers to firstly go through the
company's own internal compliance programme before they
whistle-blowed. In the end, it was a double-edged sword result for
US business
